🚀 FREE CONSULTING ONLINE TEST PREP RESOURCES, FREE MANAGEMENT CONSULTING GUIDE 2022 & FREE YOUINCONSULTING JOB TEST! www.youinconsulting.com/newsletter/ 🙂 Drop your comments, ideas, wishes and feedback on the video below - I pledge to get back on each of your comments 💪❤
Hey, just joined MBB a few months ago. Just wanted to let you know that your videos are great, amazing production quality and super insightful. Keep up the consistency and I'm pretty sure success is inevitable :)
Hi Martin, congratulations and welcome to the crew! 🎉😃 Furthermore, thank you SO MUCH for your kind words of appreciation! 💪❤ Creating this kind of content at the quality level I aspire for you is harder work than I had expected, hence receiving feedback such as yours is super useful and motivates me to keep going! Very happy to learn that you find my videos great and insightful! Will keep up the consistency, and then let's see what happens... 😉 All the best, Jack
🎯 Key Takeaways for quick navigation: 00:00 🌟 *Introduction to Choosing Between MBB Consulting Firms* - Introduction to the dilemma of choosing between McKinsey, BCG, and Bain. - Emphasizes the long-standing nature of this decision in the consulting industry. 00:30 📊 *Key Facts and Figures of MBB Firms* - Overview of McKinsey, BCG, and Bain's history, revenue, employee count, and global presence. - Highlights McKinsey's leading position in several KPIs. 03:20 🏆 *Reputation and Rankings in Consulting* - Discusses the Vault ranking and the reputation of McKinsey, BCG, and Bain in various regions. - Highlights McKinsey's top position in reputation and prestige. 04:47 🤔 *First Answer to the Firm Selection Dilemma* - Advises that the differences between the firms are marginal for beginners in consulting. - Suggests accepting an offer from any of the three if given the opportunity. 08:17 🔄 *Alternative Perspective on Choosing a Firm* - Offers a second answer for those with multiple offers, recommending McKinsey for its size, global presence, and support services. - Emphasizes McKinsey's benefits for employees and alumni. 13:10 💡 *Final Thoughts and Conclusion* - Summarizes the key points and recommendations. - Encourages viewers to explore other options in the consulting industry. Made with HARPA AI
What about McK's reputational problems as of late in the wake of the opioid crisis, various insider trading problems etc? I was fortunate enough to receive the 3 offers and went with BCG, partly because of this hit to McK's cultural capital, and because the people I met at BCG were more friendly than those I met at McK.
Hi apple! Thank you for raising this very good point, and I had thought that indeed all the McKinsey scandals may deserve an own video at some point. My impression is that McKinsey’s reputation has not suffered much from the scandals, at least in the business world. McKinsey is incredibly good at managing its corporate communications (generally, they prefer not to be talked about at all), and I think that most people in Europe are not even aware of the recent happenings in the US that you are pointing to. My own view - in brief - is that the insider trading scandals (and some others) were mostly caused by greedy individuals within a rather loose project organization comprising thousands of employees. While it is still puzzling that such figures made it to the top of the organization, I think it had been difficult to blame the entire organization for having some criminals within their rows. For me, the opioid crisis is on another level though, where I felt that a systemic failure has occurred that raises many questions for corporate governance. For your information: While McKinsey’s former Global Managing Director Dominic Barton served for three terms, his intermittent successor Kevin Sneader was granted only a single term, and based on what I have heard, this was largely because of his handling of the opioid crisis. Still, despite all the scandals produced by the MBB and Big4 companies over the last decades, their reputation in the business world has largely remain undamaged. According to the Vault.com rankings, in Europe McKinsey has been ranked the #1 consulting firm “for nine consecutive years”. Whether the opioid crisis changes this fundamentally and will affect the decision of job applicants like you which firm firm to work for at a larger scale, remains to be seen. In any case, congratulations to landing the three MBB offers! 🎉 As I said in the video, of course working for any of these firms is fantastic, and at 12:50 I mention that if you decided to not join the largest firm, you would have very good reasons for that. I think you have these reasons! I wish you a splendid time at BCG! Again, this is a complex topic and might deserve further dedicated discussion. I hope you find these initial reflections helpful 👍🏼
You should join the one that gives you an offer :) very small % of ppl actually get offers from several of these companies (at least in the US - getting into other regions from top US schools is easier) - at our school i’ve seen too many people who were so cocky and overconfident in their ability to get into MBB that ultimately they put all their eggs there and then ended up scrambling trying to get into not even second tier (b/c it was too late) but 3rd / 4th tier companies..
Hi there - you got it. Odds to get into MBB are between ~1-2% among all applicants, as I mention at 08:45 of the video. Admittedly though, conditional probability is higher that if McKinsey wants you, BCG and Bain will want you, too. In any case, nobody should put all their eggs into the MBB basket and feel wrongly entitled that he or she was going to make it for sure. Ideally, you are motivated to work as a consultant (and not necessarily for MBB). The work you deliver for a tier 2 or tier 3 consulting firm is very, very similar, and it is wise to have such a plan B (or let’s better say c 😉 ) You talk about your classmates. Are you pursuing a consulting career, too? Thank you for sharing this story.
Thank you for your videos! I just got an offer from Bain today and your insights have been incredibly helpful. I’m still waiting to hear back from BCG so we’ll see what happens if I end up getting both!
Congratulations to landing the Bain offer!!! Well done! Now you are in MBB Olympus already whatever happens 😃 Thank you for letting me know that my videos are helping you. Comments such as yours motivate me to keep pushing!! 💪🏼
@@YOUinConsulting Thank you for the kind words! I’m from a non target school in the US and was really shocked to get the call. I prepped really hard and your videos were amazing, it must be hard to constantly pump out content but just know you are helping people like me on our journey. Thank you again :)
@@Rodneywinston166 I totally understand how you feel. I also initially studied at non-target schools in fact until I started my PhD, so yes this can definitely feel like an uphill battle. You are abolutely right to feel pumped now 😀 Oh and yes... I had not known HOW MUCH WORK it is to produce such videos 😭😂 Furthermore: Could you get in touch with me? There is something that would be interesting to discuss... 🙂
@@Rodneywinston166 @RodneyWinston Cool. Hve you signed up to my newsletter already? Then just hit reply on any email 😉 Alternatively, LinkedIn (see video description)
What are the chances of someone getting internship & job offer after internship in all 3 management consulting companies ( MBB) in same year. Happy 2022.
Hi Viren! I am not sure I understand your question completely, I will do my best effort to answer it properly: 1. I think in general it is pretty unlikely that somebody does three internship (3 x ~3 months) in a single year. 2. Doing an internship at a consulting firm to later join it full time is one of the "safest" strategies to get in! 3. As I describe in the video, the probability to get into McKinsey is around ~1%, and it will not be higher at BCG or Bain. Still, if you have managed to bag an offer from one of the MBB firms, the probability that the other two firms will like you, too, is higher. So I would expect that the probability to get an offer from all three offers may be between 0-0.5%, maybe ~0.3%. I hope this answers your question? 🙂 Best wishes and a happy New Year to you, too! Jack
The torture of choice in another dimension... Yes, I think you have a point there. I know people though who turned down an "BB" offer just because they did not go the "M" offer, and I think this is wrong...
Hi Alejandro! Depends on the country you are referring to. Even within Europe, salaries vary. For instance, in Germany you should expect a McK Junior Partner to earn around ~250k € p.a. incl. boni. In the US, this figure might be higher and in Asia somewhat lower. The higher your level on the ladder, the larger your share of performance-based salaries as well. If you like to dive deeper into this topic (consulting salaries), check out as well my videos with titles "Consulting salaries" and "Freelance consulting" 👍
🚀 FREE CONSULTING ONLINE TEST PREP RESOURCES, FREE MANAGEMENT CONSULTING GUIDE 2022 & FREE YOUINCONSULTING JOB TEST! www.youinconsulting.com/newsletter/ 🙂
Drop your comments, ideas, wishes and feedback on the video below - I pledge to get back on each of your comments 💪❤
Hey, just joined MBB a few months ago. Just wanted to let you know that your videos are great, amazing production quality and super insightful. Keep up the consistency and I'm pretty sure success is inevitable :)
Hi Martin, congratulations and welcome to the crew! 🎉😃 Furthermore, thank you SO MUCH for your kind words of appreciation! 💪❤ Creating this kind of content at the quality level I aspire for you is harder work than I had expected, hence receiving feedback such as yours is super useful and motivates me to keep going! Very happy to learn that you find my videos great and insightful! Will keep up the consistency, and then let's see what happens... 😉 All the best, Jack
🎯 Key Takeaways for quick navigation:
00:00 🌟 *Introduction to Choosing Between MBB Consulting Firms*
- Introduction to the dilemma of choosing between McKinsey, BCG, and Bain.
- Emphasizes the long-standing nature of this decision in the consulting industry.
00:30 📊 *Key Facts and Figures of MBB Firms*
- Overview of McKinsey, BCG, and Bain's history, revenue, employee count, and global presence.
- Highlights McKinsey's leading position in several KPIs.
03:20 🏆 *Reputation and Rankings in Consulting*
- Discusses the Vault ranking and the reputation of McKinsey, BCG, and Bain in various regions.
- Highlights McKinsey's top position in reputation and prestige.
04:47 🤔 *First Answer to the Firm Selection Dilemma*
- Advises that the differences between the firms are marginal for beginners in consulting.
- Suggests accepting an offer from any of the three if given the opportunity.
08:17 🔄 *Alternative Perspective on Choosing a Firm*
- Offers a second answer for those with multiple offers, recommending McKinsey for its size, global presence, and support services.
- Emphasizes McKinsey's benefits for employees and alumni.
13:10 💡 *Final Thoughts and Conclusion*
- Summarizes the key points and recommendations.
- Encourages viewers to explore other options in the consulting industry.
Made with HARPA AI
Hello bot
What about McK's reputational problems as of late in the wake of the opioid crisis, various insider trading problems etc? I was fortunate enough to receive the 3 offers and went with BCG, partly because of this hit to McK's cultural capital, and because the people I met at BCG were more friendly than those I met at McK.
Hi apple!
Thank you for raising this very good point, and I had thought that indeed all the McKinsey scandals may deserve an own video at some point.
My impression is that McKinsey’s reputation has not suffered much from the scandals, at least in the business world. McKinsey is incredibly good at managing its corporate communications (generally, they prefer not to be talked about at all), and I think that most people in Europe are not even aware of the recent happenings in the US that you are pointing to. My own view - in brief - is that the insider trading scandals (and some others) were mostly caused by greedy individuals within a rather loose project organization comprising thousands of employees. While it is still puzzling that such figures made it to the top of the organization, I think it had been difficult to blame the entire organization for having some criminals within their rows.
For me, the opioid crisis is on another level though, where I felt that a systemic failure has occurred that raises many questions for corporate governance. For your information: While McKinsey’s former Global Managing Director Dominic Barton served for three terms, his intermittent successor Kevin Sneader was granted only a single term, and based on what I have heard, this was largely because of his handling of the opioid crisis.
Still, despite all the scandals produced by the MBB and Big4 companies over the last decades, their reputation in the business world has largely remain undamaged. According to the Vault.com rankings, in Europe McKinsey has been ranked the #1 consulting firm “for nine consecutive years”. Whether the opioid crisis changes this fundamentally and will affect the decision of job applicants like you which firm firm to work for at a larger scale, remains to be seen.
In any case, congratulations to landing the three MBB offers! 🎉 As I said in the video, of course working for any of these firms is fantastic, and at 12:50 I mention that if you decided to not join the largest firm, you would have very good reasons for that. I think you have these reasons! I wish you a splendid time at BCG!
Again, this is a complex topic and might deserve further dedicated discussion. I hope you find these initial reflections helpful 👍🏼
You should join the one that gives you an offer :) very small % of ppl actually get offers from several of these companies (at least in the US - getting into other regions from top US schools is easier) - at our school i’ve seen too many people who were so cocky and overconfident in their ability to get into MBB that ultimately they put all their eggs there and then ended up scrambling trying to get into not even second tier (b/c it was too late) but 3rd / 4th tier companies..
Hi there - you got it. Odds to get into MBB are between ~1-2% among all applicants, as I mention at 08:45 of the video. Admittedly though, conditional probability is higher that if McKinsey wants you, BCG and Bain will want you, too. In any case, nobody should put all their eggs into the MBB basket and feel wrongly entitled that he or she was going to make it for sure. Ideally, you are motivated to work as a consultant (and not necessarily for MBB). The work you deliver for a tier 2 or tier 3 consulting firm is very, very similar, and it is wise to have such a plan B (or let’s better say c 😉 )
You talk about your classmates. Are you pursuing a consulting career, too? Thank you for sharing this story.
Thank you for your videos! I just got an offer from Bain today and your insights have been incredibly helpful. I’m still waiting to hear back from BCG so we’ll see what happens if I end up getting both!
Congratulations to landing the Bain offer!!! Well done! Now you are in MBB Olympus already whatever happens 😃 Thank you for letting me know that my videos are helping you. Comments such as yours motivate me to keep pushing!! 💪🏼
@@YOUinConsulting Thank you for the kind words! I’m from a non target school in the US and was really shocked to get the call. I prepped really hard and your videos were amazing, it must be hard to constantly pump out content but just know you are helping people like me on our journey. Thank you again :)
@@Rodneywinston166 I totally understand how you feel. I also initially studied at non-target schools in fact until I started my PhD, so yes this can definitely feel like an uphill battle. You are abolutely right to feel pumped now 😀 Oh and yes... I had not known HOW MUCH WORK it is to produce such videos 😭😂 Furthermore: Could you get in touch with me? There is something that would be interesting to discuss... 🙂
@@YOUinConsulting yes! How would you like me to contact?
@@Rodneywinston166 @RodneyWinston Cool. Hve you signed up to my newsletter already? Then just hit reply on any email 😉 Alternatively, LinkedIn (see video description)
What are the chances of someone getting internship & job offer after internship in all 3 management consulting companies ( MBB) in same year. Happy 2022.
Hi Viren! I am not sure I understand your question completely, I will do my best effort to answer it properly:
1. I think in general it is pretty unlikely that somebody does three internship (3 x ~3 months) in a single year.
2. Doing an internship at a consulting firm to later join it full time is one of the "safest" strategies to get in!
3. As I describe in the video, the probability to get into McKinsey is around ~1%, and it will not be higher at BCG or Bain. Still, if you have managed to bag an offer from one of the MBB firms, the probability that the other two firms will like you, too, is higher. So I would expect that the probability to get an offer from all three offers may be between 0-0.5%, maybe ~0.3%.
I hope this answers your question? 🙂
Best wishes and a happy New Year to you, too!
Jack
@@YOUinConsulting Thanks. I got the answer.
Hppy new year Joerg, awaiting your session :)
Good to see you here! A happy New Year to you, too 🙂🎉
Basically the same thing as deciding between colleges
The torture of choice in another dimension... Yes, I think you have a point there. I know people though who turned down an "BB" offer just because they did not go the "M" offer, and I think this is wrong...
Hey i have a question, how much make a junior partner at Mckinsey?
Hi Alejandro! Depends on the country you are referring to. Even within Europe, salaries vary. For instance, in Germany you should expect a McK Junior Partner to earn around ~250k € p.a. incl. boni. In the US, this figure might be higher and in Asia somewhat lower. The higher your level on the ladder, the larger your share of performance-based salaries as well.
If you like to dive deeper into this topic (consulting salaries), check out as well my videos with titles "Consulting salaries" and "Freelance consulting" 👍